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Interesting to see what happens tomorrow
I like. I am in @ 40 5.2K onwards..
...and they're managing ' £0.5 billion of Funds'....RE-RATE of maga proportions?????
The firm acts as an expert witness in Court of Protection cases where a person is no longer capable of handling their own business affairs, typically because of personal injury, whether through accidents or operations that went wrong. "Having advised solicitors and barristers on the pre-settlement case, we can then offer our services in the post-settlement area, advising on how best to invest any lump sum settlement awarded to provide structured settlements, or periodical payments as they are now called," Fraser said. Frenkel Topping was a UK pioneer in structured settlements, introducing the practice from the USA back in the eighties
Profit before tax surged to £0.48m from £0.29m the year before. The group paid a maiden dividend last year and intends to make another dividend payment this year at the time of its full year results. "We'll talk to our advisors about future dividend policy later in the year," Dean revealed. Funds in the Investment Management Service increased by 14% to £445m, while net asset value (before non-controlling interests) grew to £5.9m from £5.3m the year before. The Retail Distribution Review (RDR) comes into force in January 2013 and is likely to shake up the world of independent financial advisors (IFAs) but its introduction holds no terrors for Frenkel Topping. "We've been RDR-compliant since the company was formed, so we are well placed for when the new order comes in," Fraser said. In fact, the uncertainty surrounding the future of IFAs in 2013 is already working in the company's favour, at least in terms of deepening the talent pool from which it can recruit. "We deal in quite complex legal cases, and we have occasionally found it hard to find qualified people who can handle the complexities of what our business entails " Dean explained.
Financial services firm Frenkel Topping moved close to its 52-week high after a solid set of interim figures. The company, which provides financial advice on the investment of personal injury damages and clinical negligence awards, saw revenue in the first half of 2012 rise to £2.34m from £2.22m. Back in March house broker had forecast full year revenues of £5.0m, so the company would appear to be a little bit behind the pace, but Finance Director Julie Dean explained to Sharecast that the firm's results are typically a bit second half weighted, at least on the new business side, as its consultants burn rubber on the roads of the nation towards the end of the year to close deals and hit full year targets. Like most companies, Frenkel Topping loves to see recurring income as a proportion of total income increase, and in the first half of 2012 it rose to £1.6m versus £1.5m in the corresponding period of 2011, and now represents 69.5% of group revenue.
David Southworth, Chairman of Frenkel Topping, commented: "The Board is pleased with the progress that the Group has continued to make during the period, particularly in terms of revenue and profitability, as well as the increase in the number of authorised individuals who are now able to transact new business revenues. Despite the uncertain economic environment, we have succeeded in growing recurring revenue and Funds in the Investment Management Service. The Group continues to expand profitably and we look forward to driving further growth and capitalising on the operational efficiencies instigated during the period."
Financial services firm Frenkel Topping moved close to its 52-week high after a solid set of interim figures. The company, which provides financial advice on the investment of personal injury damages and clinical negligence awards, saw revenue in the first half of 2012 rise to £2.34m from £2.22m. Back in March house broker had forecast full year revenues of £5.0m, so the company would appear to be a little bit behind the pace, but Finance Director Julie Dean explained to Sharecast that the firm's results are typically a bit second half weighted, at least on the new business side, as its consultants burn rubber on the roads of the nation towards the end of the year to close deals and hit full year targets. Like most companies, Frenkel Topping loves to see recurring income as a proportion of total income increase, and in the first half of 2012 it rose to £1.6m versus £1.5m in the corresponding period of 2011, and now represents 69.5% of group revenue. Profit before tax surged to £0.48m from £0.29m the year before. The group paid a maiden dividend last year and intends to make another dividend payment this year at the time of its full year results.
CHAIRMAN'S STATEMENT Results I am pleased to report record Frenkel Topping Group results for the year ended 31 December 2010, which show a profit from operations before share based compensation of £733,355 (2009: £208,211) and a profit before taxation of £647,213 (2009: £123,437). These results have been achieved following an extensive period of reconstruction and the Board is delighted at the progress that has been made by the Group. The Group generated £394,861 of cash from its operating activities during the year (2009: £175,389). The Group has also repaid its long-term debt of £200,000 and at the year-end held a minimal net overdraft at the bank of £42,937 (2009: £146,853). The Group is operating well within its current bank facilities and the Board expects this situation to continue into the future. The net asset value of the Group, before non controlling interests at 31 December 2010 was £5,131,685 (2009: £4,774,008). The Group's income is derived from fees on our clients' initial investments and the recurring income from servicing the client's portfolios within the Funds in the Investment Management Service (FIMS). The Group revenue of £3.6m (£2009: £3.0m) includes fees from initial investment of £1.2m (2009: £1.4m) and £2.4m (2009: £1.6m) of recurring income from FIMS. The total FIMS has risen to £356m as at 31 December 2010 from £282m (as redefined), at the commencement of the year. As a result of this growth we expect the recurring income to show further growth in 2011. The Group's financial strategy has been to become less reliant on fees from initial business, with more emphasis on the growth of FIMS and the resulting increase in the level of recurring fees, which now represents 67% (2009: 53%) of total Group revenue. We expect this trend to continue. By the start of 2011 the Group had successfully assembled its strongest selection to date of authorised individuals covering various areas of expertise, which will facilitate the planned increases in new FIMS. We continue to embrace the evolving recommendations from the FSA Retail Distribution Review, as we believe it will form the basis for the future structure of independent professional financial advice. At its core is the principle of Treating Customers Fairly, which the Group has embraced for a number of years. The Board continues to develop the service offering to our clients and to attract new relationships. The Group has a number of new strategic partnerships within its investment offering, including the New Horizon OEIC, which is managed by Goldman Sachs and Morgan Stanley. Due to the significant balance of FIMS the Group has at its disposal, we are able to attract the services of substantial global investment managers and thus open up their expertise to our clients. To this end the Group has established F
on this one....!!!!!!!!!!!!!!!!!!!!!!!!!!!!
i can release some funds going to check real time spread and have a gamble on this.